Nordstrom Reports 38 Percent Lift in First-Quarter Earnings
9 days ago - By WWD
Nordstrom Inc. reported a 38 percent rise in net profit in the first quarter ended May 5, triggering a mild lift in the retailer's earnings outlook for 2018 to $3.35 to $3.55 a share, from the $3.30 to $3.35 previously forecast.
First-quarter net earnings rose to $87 million compared with $63 million during the same period a year ago. Results in 2017 included an interest expense charge of $18 million related to a debt refinancing.
Earnings before interest and taxes, or EBIT, were $153 million, or 4.4 percent of net sales, compared with $151 million, or 4.6 percent of net sales, during the...
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